McLaren will always be known as a British supercar brand that competes in Formula 1, but now it’s fully owned by the sovereign wealth fund of the Kingdom of Bahrain.
The capital reorganization for McLaren Group has been completed, giving the firm a much-needed funding after facing financial troubles since the pandemic. The McLaren Group consists of McLaren Automotive - the brand that manufactures its sports cars and supercars, and McLaren Racing - the firm's motorsport venture arm that operates under Zak Brown.
Mumtalakat’s stake in the McLaren Group first began in 2007, when it took a 15 per cent share of the brand’s ownership. This grew to 50 per cent in 2012. Following the departure of Ron Dennis in 2017 and the death of Mansour Ojjeh in 2021, Mumtalakat grew its stake to 60 per cent in late 2022. In recent years, McLaren’s financial woes led to the sale of the brand’s iconic race cars from its collection, while its UK headquarters in Woking was sold in 2021. This caused the delay of its hybrid supercar, the Artura. Currently, McLaren also rents its own home in a 20-year leaseback program.
With the reorganization, McLaren Group Executive Chairman Paul Walsh says that Mumtalakat will be able to help McLaren “focus on its long-term business plan, including investment in new products and technologies, whilst continuing to explore potential technical partnerships with industry partners.”AutoIndustriya.com is the leading automotive resource for the Philippines. Featuring daily headlines and breaking news from the Philippine auto industry and around the world. AutoIndustriya.